Trading ideas: Alliance Bank Malaysia, UWC, Taliworks Group, Southern Steel, Jayacorp

KUALA LUMPUR: Stocks to watch for on Monday include Alliance Bank Malaysia, UWC, Taliworks Group, Southern Steel and Jayacorp, said JF Apex Research in a report.

Alliance Bank Malaysia Bhd is disposing of its stockbroking business to stockbroking firm Phillip Futures Sdn Bhd.

UWC Bhd registered a net profit of RM23.04mil for its first quarter ended Oct 31, 2021.

Taliworks Corp Bhd has bagged an RM293.86mil contract from Pengurusan Air Selangor Sdn Bhd.

Southern Steel Bhd is disposing of two parcels of land in Sungai Tiram, Johor for RM65mil cash to repay the group’s borrowings.

Jayacorp Bhd said it is implementing a seven-day closure of operation at its Air Tawar factory in Merlimau, Melaka after 47 employees were tested positive for Covid-19.

Meanwhile, the FBM KLCI is expected to remain lacklustre with support at 1,480 points.

This is following the US's negative performance on Friday over the Covid Omicron variant and November's nonfarm payroll coming below expectation.

European stocks were also negative due to uncertainty over the Omicron variant.
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